Technology company Zuora released its IPO prospectus on Friday, revealing plans to trade on the public market.
The cloud-computing company, which helps businesses manage subscription services, was backed by major investors like Blackrock and Benchmark. Its founder and CEO Tien Tzuo was an early Salesforce employee, and has been an outspoken advocate of subscriptions in the journalism business.
It plans to list on the New York Stock Exchange under the symbol "ZUO."
Here are stats for its most recent fiscal year, which ended January 31:
- Revenue: $167.9 million, up about 49 percent from a year ago
- Net loss: $47.2 million
- Recurring profit margin: 28 percent
- 950 customers in over 30 different countries
Zuora emphasized company culture in its note to investors, particularly the term "ZEO," which means "every employee is the CEO of his or her Zuora career."
"This has fostered a culture centered around entrepreneurship, innovation, ownership, and responsibility," Tzuo wrote in a letter to investors. "To be candid, I believe Zuora isn't run by its CEO or executive team; it's run by more than 900 passionate and innovative ZEOs, including me. The result is a company of empowered and invested employees who bring out the best in one other."